cosmordinary

In this infinite cosmos we have only one life each. A life in this infinite cosmos is just like a dust in the world. Born by chance and die in necessity. Feeble life and boundless world, two facts we face. Even if you spend your whole life solving them. You will get nothing. - 1998

Wednesday, October 25, 2006

BenQ suffers losses, sells assets

TAIPEI, Taiwan — Taiwan's BenQ said it lost $600 million in the first nine months of the year, and intends to sell off some of its non-core assets in order to recover from a costly and futile effort to turnaround the cell phone business it acquired from Siemens.

BenQ's sales in the first nine months totaled $4.7 billion, excluding sales connected with the BenQ Mobile German subsidiary. When BenQ took over the troubled handset division of Siemens a year ago, it was losing about $1.5 million a day.

Things were so bad that Siemens paid BenQ to take it off their hands. During the last 12 months, BenQ has ponied up about $760 million to keep the former Siemens unit alive.

Last month, it threw in the towel and forced the unit into bankruptcy. This week, roughly two-thirds of the 3,000 workers in Germany were laid off and are fighting a bitter dispute over compensation from BenQ as well as the former parent Siemens.

Mike Clendenin    

EE Times

(10/24/2006 10:40 AM EDT)

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